Here is a fresh company report from Roni on Etteplan and its Q4 
Etteplan’s Q4 figures fell slightly short of our forecasts, and the midpoints of the 2026 guidance were also slightly lower than our estimates. There is no immediate recovery visible in the market outlook, and the company’s customer base still appears to be very cautious. Due to the prolonged weak market situation and the risks associated with the transition phase caused by AI, we have slightly increased our required rate of return.